智通财经网·2025-09-23 22:29Market Overview - Major U.S. indices closed lower, with the Nasdaq dropping over 1% at one point, as Fed Chair Powell indicated that stock valuations are quite high and the path for interest rate cuts remains unclear, describing the situation as "challenging" [1][4] - The Dow Jones fell by 88.76 points (0.19%) to 46292.78, the Nasdaq decreased by 215.50 points (0.95%) to 22573.47, and the S&P 500 dropped by 36.83 points (0.55%) to 6656.92 [1] Oil Market - Light crude oil futures for November delivery rose by $1.13 to $63.41 per barrel, a 1.81% increase, while Brent crude oil futures for November increased by $1.06 to $67.63 per barrel, a 1.59% rise [2] Cryptocurrency and Precious Metals - Bitcoin decreased by 0.46% to $112,253.5, and Ethereum fell by 0.49% to $4,182.36. Gold prices reached a new historical high, surpassing $3,786, driven by expectations of rapid interest rate cuts in the U.S. and gold's appeal as a safe-haven asset [3] Macroeconomic Insights - Powell noted that asset prices, including stocks, are at high levels and emphasized the Fed's focus on financial conditions and the impact of their policies [4] - The Richmond Fed's manufacturing activity index for September showed a significant decline, dropping from -7 to -17, indicating a slowdown in manufacturing, particularly in shipping volumes [5] Corporate Developments - Micron Technology reported strong earnings and optimistic forecasts, projecting Q1 2026 revenue of approximately $12.5 billion, exceeding market expectations, with a notable increase in high-bandwidth memory demand due to AI applications [8] - Cathie Wood's Ark Investment Management re-entered a position in Alibaba, purchasing approximately $16.3 million worth of ADRs, marking the first investment in four years [9] - Nvidia announced plans to invest up to $100 billion in OpenAI to support data center construction, raising concerns about a potential AI bubble due to the scale of the investment [10] Regulatory Changes - Chevron's oil exports from Venezuela have been halved due to new U.S. regulations limiting cash payments to the Maduro government, affecting the company's operations in the region [11]